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BBR Holdings, LTC Corp issue profit warnings
CONSTRUCTION firm BBR Holdings and steel supplier LTC Corporation issued profit warnings on Tuesday evening.
BBR said that it expects to make a net loss for its first quarter ended March 31, without elaboration.
LTC said that it expects to post a loss for its third quarter ended March 31 which may also result in a loss for the financial year-to-date ended March 31, adding that the loss was mainly due to "continued losses suffered by the steel business due to stiff competition and falling steel prices as well as currency exchange losses".
Before the profit warnings were released, BBR shares lost 0.1 Singapore cent to S$0.18 and LTC finished flat at S$0.52 on Tuesday.